No less than eight stocks / securities were subject to the ban on futures and options (F&O) by the National Stock Exchange (NSE) on Wednesday, September 15, 2021. These securities are banned in the F&O segment because they crossed 95% of the market wide position limit (MWPL), in accordance with the NSE.
Indian Railway Catering and Tourism Corporation (IRCTC) is back under the F&O ban after it was withdrawn on Tuesday. Vodafone Idea (Vi), Canara Bank, Exide Industries, LIC Housing Finance, Escorts, Sun TV and National Aluminum Company (Nalco) are also among the actions currently prohibited by F&O.
The derivative contracts on the mentioned securities have exceeded 95% of the position limit at market level and are therefore currently put on a blackout period by the stock exchange.
It is hereby informed that all clients / members will only trade derivative contracts of said security to decrease their positions through offsetting positions, ”the exchange said. “Any increase in open positions will result in appropriate criminal and disciplinary action,” NSE added. .
No new position is allowed for any of the F&O contracts in that particular stock when it is under the F&O blackout period. The MWPL (market-wide position limit) is set by the stock exchanges, which corresponds to the maximum number of contracts that can be opened at any time (Open Interest). Therefore, the M&O contracts of this share enter a blackout period if the open interest crosses 95% of the MWPL.
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